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Solana breaks above $100, new altcoin could be next

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Solana breaks above $100, new altcoin could be next

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Solana is in an uptrend, rising above $100 for the first time in more than a week. However, it still trails Bitcoin Minetrix whose presale is approaching $10 million.

Solana rallying

Solana has outpaced other top 10 players when writing, adding 7.08%. It is also up 28% this week.

Solana is the fifth largest cryptocurrency, with a $45 billion market cap and a $2.9 billion 24-hour trading volume.

Its popularity has increased due to on-chain advancements, including the launch of the Jupiter DEX.

Jupiter’s trading volume has surged due to an upcoming airdrop, and it briefly surpassed Uniswap as the most popular DEX on Solana.

Uniswap has since regained its position, but Jupiter remains a major player in the Solana ecosystem.

Solana breaks above $100, new altcoin could be next - 1

Interest in Jupiter is significant because it has led to massive liquidity inflows into the Solana blockchain, likely the catalyst behind its recent price surge.

This is evident in DeFiLlama data, showing that Solana’s TVL and stablecoins are at their highest levels since Q3 2022.

Solana breaks above $100, new altcoin could be next - 2

Meanwhile, data from The Block shows that Solana’s daily active addresses are also growing, currently approaching the highest yearly level.

Solana breaks above $100, new altcoin could be next - 3

Solana’s recent growth and upcoming airdrop have fueled investor excitement, with experts predicting significant price gains.

Analyst ChristiaanDefi has set a long-term price target of $500.

Short-term price targets are also optimistic, ranging from $137 to $225.

Technical analysis supports these predictions, indicating support and bullish indicators.

Solana breaks above $100, new altcoin could be next - 4

Meanwhile, respected analyst Michael van de Poppe anticipates a move to $140 for Solana after “a higher timeframe support test at $80 provided support.”

Solana breaks above $100, new altcoin could be next - 5

Evidently, the Solana network is seeing rising interest following a period of relative inactivity. 

While Solana trends, interest in Bitcoin Minetrix remains high.

Bitcoin Minetrix presale approaches $10 million

Bitcoin Minetrix is a new cryptocurrency that allows users to mine Bitcoin by staking BTCMTX.

Staking BTCMTX earns users Bitcoin mining credits, which can be used to power cloud mining operations.

Solana breaks above $100, new altcoin could be next - 6

Bitcoin Minetrix is a new cryptocurrency that allows anyone to mine Bitcoin for free without the need for expensive hardware or technical knowledge.

It also eliminates the space and noise constraints associated with traditional Bitcoin mining and offers a more sustainable approach.

The project is decentralized and transparent, ensuring that users’ funds are safe and secure.

Unlike traditional cloud mining scams, Bitcoin Minetrix offers a variable lock-in period, allowing users to control how long they stake their tokens.

The presale is ongoing, but users can start staking their tokens immediately. The current staking APY is 68%.

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